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Societe Generale SA - Stock Quote GLE

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Morningstar's Societe Generale SA Stock Analysis

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Societe Generale First-Quarter 2022: Solid Revenue Growth for All Business Units

Niklas Kammer, CFA Equity Analyst

Analyst Note

| Niklas Kammer, CFA |

No-moat Societe Generale reported a net profit of EUR 0.84 billion for the first quarter of 2022, an increase of 3% year on year. Higher operating expenses and loan-loss provisions were more than offset by a 17% increase in net banking income. This was reflected in its EUR 1.4 billion operating income, up 14% compared to the first quarter of 2021. We maintain our EUR 25.50 per share fair value estimate.

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Societe Generale SA's Company Profile

Business Description

Founded in 1884, Societe Generale is one of France's major banks. It was historically viewed as primarily a corporate and investment bank, but it has meaningful retail banking operations in France, Eastern Europe, Russia, and North Africa.

29, Boulevard Haussmann
Paris, 75009, France
T +33 142142000
Sector Financial Services
Industry Banks - Regional
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type
Employees 131,293

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